UNG : Gas direction

Oversupply is a threat, better manufacturing outlook an opportunity. (Caterpillar & commodity indexex  – copper, …)

Looking at the graph a channel is clear. Resistance is at 11. Will it hold ?

20091023_UNG

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2 responses to “UNG : Gas direction

  1. i also made some money yesterday with the msft stocks rising 🙂 But what do you thik for monday/teusday. Will MSFT and maybe Amazon still keep rising or do you think it is wiser to short? I’ hoping you can give me your opinion.

    Greets from holland,
    Ido

    • My feeling is that it first will go down. I think the gap was a combination of good results and the media attention for Windows 7. Look at other technology stocks what they did after a gap (INTC, GOOG, AAPL, …) – a site in dutch gives an overview : http://www.beursprognoses.com/analyse/268/Technologische_gaps

      MSFT will first have to prove better results via Windows 7 and BING. I think for long term it is ok. They got a wake up call with VISTA and missing the internet-train (desperate for buying YAHOO)

      Good luck

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